← UNITED FIRE GROUP INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $15.0m ($29.7m) $62.0m $118.2m
Net Income (Loss) Attributable to Parent $49.9m $51.0m $27.6m $14.8m ($112.7m) $80.6m $15.0m ($29.7m) $62.0m $118.2m
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent — $44.9m $2.3m $14.8m ($112.7m) $80.6m $15.0m ($29.7m) $62.0m $118.2m
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent — $6.2m ($1.9m) $0 $0 — — — — —
Depreciation, Depletion and Amortization $6.0m $4.6m $5.2m $11.2m $6.7m $6.6m $7.7m $10.5m $10.9m $10.8m
Amortization of Intangible Assets — — — — — — $709k $709k $709k $709k
Deferred Policy Acquisition Costs, Amortization Expense $211.0m $5.3m $4.7m $1.5m $7.2m $4.4m $12.8m $22.3m $20.7m $11.0m
Depreciation $5.3m $3.8m $4.5m $10.5m $5.9m $5.9m $7.0m $9.8m $10.1m $9.8m
Amortization Cash Flow — — — — — $709k $709k $709k — —
Amortization Of Intangibles — — — — — $709k $709k $709k — —
Amortization Of Securities — — — — — — $9.0m $7.1m $4.5m $1.6m
Deferred Income Tax Expense (Benefit) $4.5m ($5.9m) ($16.2m) $10.1m ($17.5m) $5.6m ($3.9m) ($8.3m) ($8.4m) ($5.7m)
Deferred Income Tax — — — — — — ($3.9m) ($8.3m) ($8.4m) ($5.7m)
Deferred Tax — — — — — — ($3.9m) ($8.3m) ($8.4m) ($5.7m)
Share-based Payment Arrangement, Noncash Expense $3.7m $4.8m $5.2m $6.2m $5.0m $3.4m $2.8m $3.2m $5.5m $9.0m
Payment, Tax Withholding, Share-based Payment Arrangement $816k $0 $0 — — — — — — —
Share-based Payment Arrangement, Expense $3.7m $4.8m $5.2m $6.2m $5.0m $3.4m $2.8m $3.2m $5.5m $9.0m
Goodwill, Impairment Loss $0 $0 $0 $0 $15.1m $0 $0 — — —
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — — — $0 $0
Asset Impairment Charge — — — — — $0 $0 — — —
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal — — — — — — — — $0 $241k
Gain (Loss) on Disposition of Business — — $34.9m $0 $0 — — — — —
Income Tax Expense (Benefit) $8.8m ($29.2m) ($11.4m) $2.1m ($56.8m) $16.2m ($3.0m) ($10.0m) $15.1m $29.7m
Operating Lease, Expense — — — $7.7m $7.6m $7.3m $8.8m — — —
Operating Lease, Lease Income — — — — — — — $507k $581k $584k
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Other Operating Assets ($828k) $2.5m $1.5m $12.0m $7.3m $43.9m $8.1m $34.4m $2.3m ($5.1m)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded — — — — $5k $0 $3k $0 $0 —
Debt Securities, Available-for-sale, Realized Gain (Loss) — — — — — — ($1.4m) ($442k) ($7.3m) ($1.4m)
Equity Securities, FV-NI, Gain (Loss) — — — — — — — $2.0m $1.4m $0
Equity Securities, FV-NI, Realized Gain (Loss) — — — — — — — $150k $1.4m $0
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — — — — $1.8m $0 $0
Goodwill $15.1m $15.1m $15.1m $15.1m $0 $0 $0 $0 — —
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims $652.4m $725.7m $731.6m $830.2m $869.5m $652.2m $637.3m $769.4m $744.6m $764.4m
Provision for Loan, Lease, and Other Losses — — — — — ($5k) ($109k) $5k ($10k) $2.9m
Financing Receivable, Credit Loss, Expense (Reversal) — — — — $4k ($5k) ($22k) $6k — —
Realized Investment Gains (Losses) $6.1m $4.1m ($20.2m) $53.8m ($32.4m) $47.4m ($15.9m) $1.3m ($5.4m) ($3.8m)
Beginning Cash Position — — — — — — $132.1m $96.7m $102.0m $200.9m
Cash Flow From Continuing Financing Activities — — — — — — ($15.0m) ($16.5m) $51.1m $11.6m
Cash Flow From Continuing Investing Activities — — — — — — ($19.2m) ($149.9m) ($292.5m) ($326.0m)
Change In Accrued Expense — — — — — — $13.0m $71.0m $1.4m ($2.1m)
Change In Other Current Assets — — — — — — ($8.1m) ($34.4m) ($2.3m) $5.1m
Change In Other Working Capital — — — — — — $7.3m $2.9m ($1.7m) $3.8m
Change In Payables And Accrued Expense — — — — — — $13.0m $71.0m $1.4m ($2.1m)
Change In Prepaid Assets — — — — — — ($2.0m) ($16.4m) ($17.2m) $12.5m
Change In Receivables — — — — — — ($91.1m) ($141.4m) $13.7m ($41.1m)
Change In Working Capital — — — — — — ($77.2m) $74.4m $203.5m $131.6m
Changes In Account Receivables — — — — — — ($92.1m) ($151.4m) $6.4m ($54.8m)
Changes In Cash — — — — — — ($35.5m) $5.4m $98.9m ($44.6m)
End Cash Position — — — — — — $96.7m $102.0m $200.9m $156.3m
Financing Cash Flow — — — — — — ($15.0m) ($16.5m) $51.1m $11.6m
Free Cash Flow — — — — — — ($3.4m) $160.8m $328.4m $263.3m
Gain Loss On Investment Securities — — — — — — $45.3m $114.5m $62.3m $4.3m
Investing Cash Flow — — — — — — ($19.2m) ($149.9m) ($292.5m) ($326.0m)
Issuance Of Capital Stock — — — — — — $828k — $348k —
Net PPE Purchase And Sale — — — — — — ($2.1m) ($10.9m) ($11.9m) ($6.4m)
Operating Gains Losses — — — — — — $45.3m $114.5m $62.3m $4.3m
Repurchase Of Capital Stock — — — — — ($2.4m) $0 ($290k) — ($993k)
Stock Based Compensation — — — — — — $2.8m $3.2m $5.5m $9.0m
Gain (Loss) on Investments — — — — — — ($15.6m) $1.5m ($5.9m) ($4.3m)
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax — — $27.3m $0 $0 — — — — —
Net Cash Provided by (Used in) Operating Activities $214.4m $170.1m $110.1m $93.8m $41.4m $29.9m ($1.3m) $171.7m $340.3m $269.7m
Cash flows from investing activities:
Capital Expenditure — — — — — — ($2.1m) ($10.9m) ($11.9m) ($6.4m)
Net Investment Purchase And Sale — — — — — — ($16.9m) ($130.9m) ($280.6m) ($319.5m)
Purchase Of Investment — — — — — — ($297.3m) ($292.9m) ($960.6m) ($714.0m)
Gains (Losses) on Sales of Investment Real Estate — — — — — ($256k) $235k $47k $0 $0
Sale Of Investment — — — — — — $280.4m $162.1m $680.0m $394.5m
Net Cash Provided by (Used in) Investing Activities ($112.4m) ($62.0m) ($19.2m) $4.5m ($92.9m) $31.7m ($19.2m) ($149.9m) ($292.5m) ($326.0m)
Cash flows from financing activities:
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $533.8m $191.5m $122.2m $265.5m $319.0m $264.2m $184.2m $80.1m $178.8m $258.8m
Proceeds from Issuance of Long-term Debt — — — — $50.0m $0 $0 $0 — —
Issuance Of Debt — — — — — — $0 $0 $70.0m $30.0m
Long Term Debt Issuance — — — — — — $0 $0 $70.0m $30.0m
Net Issuance Payments Of Debt — — — — — — $0 $0 $70.0m $30.0m
Net Long Term Debt Issuance — — — — — — — — $70.0m $30.0m
Proceeds from Issuance of Common Stock $9.9m $4.8m $7.2m $2.4m ($71k) ($421k) $828k ($290k) $348k ($993k)
Common Stock Issuance — — — — — — $828k — $348k —
Net Common Stock Issuance — — — — — — $828k ($290k) $348k ($993k)
Payments for Repurchase of Common Stock $3.7m $29.8m $5.4m $11.7m $2.7m $2.0m $0 $0 — —
Common Stock Payments — — — — — ($2.4m) $0 ($290k) — ($993k)
Dividends paid $24.6m $27.3m $105.4m $32.7m $28.5m $15.1m $15.9m $16.2m $16.2m $16.3m
Cash Dividends Paid — — — — — — ($15.9m) ($16.2m) ($16.2m) ($16.3m)
Common Stock Dividend Paid — — — — — — ($15.9m) ($16.2m) ($16.2m) ($16.3m)
Net Other Financing Charges — — — — — — — — ($3.0m) ($1.1m)
Net Cash Provided by (Used in) Financing Activities ($97.6m) ($107.5m) ($115.2m) ($42.0m) $18.7m ($17.5m) ($15.0m) ($16.5m) $51.1m $11.6m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — ($24.3m) $56.3m ($32.8m) $44.2m ($35.5m) $5.4m $98.9m ($44.6m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $64.5m $120.7m $87.9m $132.1m $96.7m $102.0m $200.9m $156.3m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($35.5m) $5.4m $98.9m ($44.6m)
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — — — — $3.2m $3.3m $7.2m $11.3m
Income Taxes Paid, Net — — — — $138k $5.4m $21.5m $1.3m $16.1m $23.6m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.